The middle class is 20 percent poorer than it was in 1984

Click here to access article by Matt O'Brien from The Washington Post.

Referring to a recently released study by the Russell Sage Foundation, O'Brien writes:

Nostalgia is just about the only thing the middle class can still afford. That's because median wealth is about 20 percent lower today, in inflation-adjusted dollars, than it was in 1984. 

Yes, that's three lost decades. ....

At this rate, it won't be long until the American Dream isn't even a memory for the middle class. 

The graph at the left says it all, except what Wolf Richter points out: "What the report wisely left untouched is how the real winners of the Fed’s policies, the 99.9th percentile, made out."